India online sports market: Ken Research

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Indian Fantasy Sports market registered an
impressive growth of 164 CAGR in FY2022.
Explore its Growth drivers Ken Research Indias
Fantasy Sports market is a rising industry that
is booming with an exponential growth rate in
the country. The market is highly anticipated to
grow at double-digit in the five years owing to
the rising craze for online gaming in the
country. 1. The Indian fantasy sports market is
2 decades old in India but has witnessed robust
growth in the last 4 years only
Users of Fantasy Sports in India Click to know
more Fantasy Sports was introduced in India
nearly two decades ago and since then the market
has seen significant transformation in the
industry. One of the first fantasy games in the
nation to achieve user momentum was the
"Selector fantasy game" in 2001, launched by
ESPN-Star Sports. But the sector did not receive
much traction from the consumers. However, in the
last 2-3 years, Online Fantasy Sports industry
in India has witnessed stupendous growth. The
number of fantasy sports operators has increased
by nearly seven times over 2016-2018, whereas
the number of users has grown by over 25 times
from 2016 to 2019. 2. The percentage of Internet
Users reached 47 in 2021, leading to the
expansion of Fantasy Sports user base in the
country
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Sample Report Over the last few years, the
number of internet users has grown tremendously.
In 2021, India has 658.0 Mn active internet
users. The exponential increase in the internet
penetration is the result of the reduction of
the data costs coupled with the availability of
affordable smartphones/smart feature phones in
the country. This growth in digital
infrastructure increased the availability of
high-speed internet in the hands of the Indian
citizens which further helped in driving the
growth to the fantasy sports sector. The option
of playing the sport on a handheld device and at
any given point irrespective of location and time
is the big reason that increased the user
engagement around fantasy sports drastically in
the last 2-3 years. 3. UPI based digital
Payment increased to 2.7 times between 2018 and
2021 which has further contributed towards the
growth of the Indian Fantasy Sport market in India
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The digital payments in India have undoubtedly
registered rapid growth and received huge
acceptance in the country. This has acted as a
propellant to several sectors, and Fantasy
Sports market is no exception. Here digital
payments include RTGS, credit transfers (such as
UPI), debit transfers card payments, and direct
transfers as their main categories. These types
of digital payments received a huge boost in
development and user adoption during the time of
demonetization, in 2016. Additionally, the ease
of use offered by digital transactions has led
to its exponential push, with Reserve Banks
Digital Payments Index growing 2.7x between 2018
and 2021. This clearly represents the rapid
adoption and deepening of digital payments in
India and UPI is emerging as the preferred mode
of payment.